BUSINESS, INTERNATIONAL

SHM Shipcare expresses interest to invest in several areas in Timor

SHM Shipcare expresses interest to invest in several areas in Timor

Image TradeInvest

DILI, 06 june 2024 (TATOLI) – The Acting Executive Director of the Investment and Export Promotion Agency, I.P (TradeInvest Timor-Leste), Roberto Lai accompanied by the Investment Promotion Manager (DPI), Silveiro Freitas met with the General Manager of the SHM-Shipcare, Avnish Sharma, to exchange ideas about SHM Shipcare’s interest in investing in Timor-Leste.

During the meeting Avnish Sharma and his team presented their interest in exploring investment opportunities in various areas such as oil and gas, fisheries industry, and the defense sector.

“SHM-Shipcare is Indian based company that has been conducting its investment and commercial activities in Malaysia and the company intended to expand its investment in Timor-Leste,” said in a statement.

Director Roberto and team his has shared general information regarding the Private Investment Law No.15/2017, including Regulations and Procedures on Government Decree No. 2/2018, which provides guarantee to investor the facilitation and support mechanism toward their investment in Timor-Leste.

As of may 2024, TradeInvest Timor-Leste has received ten investment proposals from ten companies wishing to invest in the country, including five national and five international.

The investment proposals, worth US$16 billion, covering sectors such as hotels, tourism, shipbuilding, hydroelectric power, agriculture, and fishing.

 

Journalist: Camilio de Sousa

Editor: Filomeno Martins 

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